From a business perspective, the Copenhagen Communiqué, an initiative of The Prince of Wales’s Corporate Leaders Group on Climate Change, calls on world governments to create the conditions to provide business with the certainty and frameworks it needs to scale up global investment in low-carbon technologies. It claims that a weak outcome would only exacerbate the already difficult business conditions worldwide.
Signatories are convinced that a return to economic stability must lay the foundation for low carbon growth and must avoid locking societies into an unsustainable high-carbon future.
According to the Communiqué, a legally-binding United Nations Climate change agreement should include the following key elements:
* A global carbon emissions cap and long-term reduction strategy for the period 2013 to 2050. Overall targets for emission reduction must be guided by science. According to the Intergovernmental Panel on Climate Change (IPCC) even an immediate peaking in global emissions would require a subsequent reduction of 50-85% by 2050;
* Developed countries need to take on immediate and deep carbon emission commitments much higher than the global average;
* Developing countries will need to play their part by drawing up their own emission reduction plans in line with their common but differentiated responsibilities and capabilities.
RICS chief executive Louis Armstrong said: "We support the Copenhagen Communiqué because we strongly believe in evidence based decision making and therefore want to see an agreement on credible measurement, reporting and verification mechanisms of emissions."
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